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  HOME | Chile

Chilean Economists Maintain Forecast of 2.2% Growth

SANTIAGO – Experts surveyed by Chile’s Central Bank left their projection for economic growth this year unchanged at 2.2 percent, the institution said Thursday.

The 60 academic and financial economists responding to the bank’s Monthly Survey of Economic Expectations trimmed their expectations for growth in 2016 from 2.8 percent to 2.7 percent.

Last week the Central Bank revised downward its own projection for expansion in gross domestic product this year, from a range of 2.25-3.24 percent to one of 2-2.5 percent.

Chile’s GDP increased 1.9 percent in the second quarter and by 2.2 percent during the first six months of the year compared with the same period in 2014.

The Chilean economy grew only 1.9 percent last year, its worst performance in five years.

The experts predicted inflation of 4.7 percent this year, above the Central Bank’s target of between 2 percent and 4 percent.

Participants in the survey said they expected the Central Bank to wait until December to raise the benchmark interest rate, currently at 3 percent.

 

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